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Seylan Bank posts Rs. 2.7 b net profit in 1Q
Daily FT
|April 25, 2025
SEYLAN Bank announced yesterday a Profit Before Tax (PBT) of Rs. 4,199 million in Q1 2025, against Rs. 3,704 million in Q1 2024, demonstrating a growth of 13.36%.
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For the three months ended 31 March 2025, Profit after Tax (PAT) recorded by Seylan Bank was Rs. 2,761 million, with a growth of 20.29% against Rs. 2,295 million recorded in the corresponding period of 2024.
Net interest income decreased from Rs. 9,371 million to Rs. 8,587 million, a decrease of 8.37% over the previous year for the three months ended 31 March 2025, mainly due to the reduction in market interest rates and repricing of loans and deposits. The bank’s Net Interest Margin (NIM) also recorded a reduction from 4.90% in 2024 to 4.45% in Q1 2025. The bank’s net fee based income recorded a growth of 13.83% from Rs. 1,837 million to Rs. 2,091 million during Q1 2025, and the growth in 2025 is mainly attributable to fee income from loans, cards, remittances, trade and other financial services.
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